Ambani family businesses equate to Singapore GDP says report

Anjali Sharma
GG News Bureau
WASHINGTON DC, 9^th August. According to the ‘2024 Barclays Private Clients Hurun India Most Valuable Family Businesses’ report released on Thursday the Ambani family has emerged as the undisputed winner followed closely by the Bajaj and Birla families.

The report has highlighted that India’s most valuable family businesses are collectively worth a whopping Rs 6,009,100 crore, equated to Singapore’s GDP.

The report unveiled the country’s most influential family-owned enterprises.

It noted 15 companies on the list are led by women, showcased increasing diversity in family business leadership.

Ambani family’s Reliance Industries holds the top spot with staggering valuation of Rs 2,575,100 crore.

The Bajaj family the automotive and auto components business secured the second position with a valuation of Rs 712,700 crore.

The Kumar Mangalam Birla-led Aditya Birla Group, a major player in the metals and mining sector, claimed the third spot with a valuation of Rs 538,500 crore.

Other prominent names on the list include the Jindal family (JSW Steel), the Nadar family (HCL Technologies), the Mahindra family (Mahindra & Mahindra), the Dani, Choksi, and Vakil family (Asian Paints), the Premji family (Wipro), the Rajiv Singh family (DLF), and the Murugappa family (Tube Investments of India).

Jindal family secured the fourth position led by Sajjan Jindal, with a value of Rs 471,200 crore.

Nadar family ranks 5^th with a value of Rs 430,600 crore. Led by Roshni Nadar Malhotra, the business operates in the software and services industry.

Mahindra family, led by third-generation entrepreneur Anand Mahindra, ranked sixth commands a value of Rs 345,200 Cr.

The Dani, Choksi & Vakil family commands a value of Rs 271,200 Cr ranked seventh.

Rishad Premji the head of the Premji family ranks 8^th a value of Rs 257,900 crore.

The business operates in the software and services industry.

The report said that 75% of the listed companies are publicly traded, while 85% of them sell physical products. The consumer-facing businesses make up 53% of the total, it concluded.